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Schaefer, Scott; Hayes, Rachel | CEO pay and the Lake Wobegon effect | In this paper, we propose a new explanation for the recent increase in CEO pay at US firms. Our explanation, which is based on asymmetric information in financial markets, is motivated by a recent observation made by former DuPont CEO Edward S. Woolard, Jr.: "The main reason (CEO) compensation incre... | Business; Income; Compensation; Corporate Business | 2007-02-28 |
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